Trebia Acquisition in an 8-K filing said it would amend and refile its 10-K for fiscal 2020 to comply with the SEC’s statement last month on accounting for warrants as libilities. The SPAC swaid the changes would not have any effect on its previously reported operating expenses, cashflows or cash.
Dozens of SPACs have told their shareholders they can no longer rely on financials that predate the SEC’s April 12 statement that changes the way warrants are treated on the balance sheet.
Trebia raised $375 million in a June 2020 IPO under the leadership of co-founders William Foley, II, and Frank Martire, Jr. Read more.
